As the New York Times frequently lets us know, it is totally hard to be rich. To learn the woes of our country’s most wealthy citizens, cast your eyes upon two recent articles: ‘Daddy, Are We Rich?’ and Other Tough Questions and American Dream Is Elusive for New Generation.
The first article gives tips on how to answer your children’s questions about your wealth. There is special advice for dealing with children who experience revulsion at their parents’ level of conspicuous consumption.
Doug Garr, who lives in Manhattan, said that once his son was old enough to understand that the family had two homes, his son suggested giving one to a homeless person. “His logic was sound,” Mr. Garr recalled. “Why should we live in two homes when so many live in none? I had no answer for that one.”
[…] And what if your child gets an idea like that? If you’re not ready to uproot, encourage them to think of other things they can give. “…everyone has more than enough of something.”
In the second, we learn the troubles of a certain Scott Nicholson, a 24-year-old college graduate who has not worked since graduation in 2008. We are told this is because he can’t find a job, yet are also informed he turned down a $40k/year job because he didn’t want to “waste early years in dead-end work”. He is forced to live in destitution at his affluent parents’ large suburban home, while receiving free rent, food, and transportation from them. Fortunately, he has no college debt to pay off, because his grandparents paid for his education.
“[I]t is because I have no debt that I have any sort of flexibility to look for work,” reflects Scott. “Otherwise, I would have to have a job, some kind of full-time job.” Can you imagine?
He adds later: “If you talk to 20 people, you’ll find only one in manufacturing and everyone else in finance or something else.” (BTW, who are these 20 people? I think about 0 in 20 people in my community are in finance.)
Thank you, New York Times, for letting me know the sufferings of the top 10%. I will stop whining about the poverty in my neighborhood and refocus my attention on that most marginalized section of society: the rich.